Australian Government Funds Shun Renewable Energy  

Posted by Big Gav in , ,

The SMH has a demoralising report about the sad state of government energy policy - fossil fuels receive 28 times as much in subsidies as the renewable energy industry does - which is a long way from what we should have - carbon taxes and no subsidies for fossil fuel industries at all - Funds Shun Renewable Energy

AUSTRALIAN Government investment funds are putting nearly 50 times more money into the fossil fuel and uranium industries than into renewable energy, a new report has found.

Large Government-owned investors, including the Federal Government's Future Fund and state bodies such as the Workcover Authority, are investing in direct conflict with their governments' plans to reduce greenhouse emissions, according to the report, to be released today by the Australian Conservation Foundation.

The report came as a Newspoll commissioned by Greenpeace found 78 per cent of Australians remain unaware that the fossil fuel industry receives taxpayer subsidies of just over $800 per person each year, about 28 times the amount given in subsidies to the renewable industry.

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